NO. 40


Financial andBanking News

Loans & Issues

SIDF Lends $19Mn For Saudi Gold Refinery

Under an agreement signed on 24 June, the Saudi Industrial Development Fund (SIDF)will lend SR70mn ($18.7mn) to the joint venture company Dhahab for theconstruction of a gold refinery in Jiddah. The interest-free loan will coverhalf the cost of the refinery and will be repaid within eight years. The balancewill be financed from Dhahab's capital and commercial loans. Dhahab is owned...